Economics
Draghi Braves QE Hype With Boost That Leaves ECB Room to Do More
- ECB keeps monthly buying at 60 billion euros, extends to 2017
- Municipal, local debt added to asset-purchase program
ECB's Draghi: QE Extended Until March 2017 or Beyond
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The European Central Bank unveiled a package of measures to tackle too-low inflation, from a cut in the floor for interest rates to an expansion of its bond-buying program by at least 360 billion euros ($390 billion). Investors were unimpressed.
The Frankfurt-based ECB will by six months until at least March 2017 at the current rate of 60 billion euros a month, and broaden the assets purchased to include local and regional debt, ECB President Mario Draghi said on Thursday. The Governing Council earlier reduced its deposit rate by 10 basis points to minus 0.3 percent.